Why You NEED to Stop Investing in a 401K!

A 401K is not a reliable retirement option and that’s what we need to understand to be able to help more people change the path they’re on. Our goal is to help people put their hard-earned money to work in investments that could provide a better future – and that is real estate! Watch this video to learn more about 401Ks, the taxes you pay, and why they aren’t going to help you retire comfortably! Key Talking Points of the Episode [00:00] Introduction [01:12] Taxes on 401Ks [02:20] Experts' opinions on 401Ks [03:58] History of the 401K [04:40] Risks of 401Ks Quotables “It is known that 80% of most people’s wealth is tied up in the equity in their primary residence or their 401K.” “In a 401K, you’re paying tax on the crop, which means you’re not going to pay tax when the money goes into the 401K, but you’re going to pay tax when it comes out of the 401K.” “In a self-directed IRA or a Roth IRA, you pay tax before you make a contribution but you don’t pay tax when you withdraw the contribution.” “Even the father of the 401K, Ted Benna, tells the journal with some regret that he helped open the door for Wall Street to make even more money than they were already making.” “Other experts agree on its blog, the Economic Policy Institute recently declared the 401K is a poor substitute for the defined benefit pension plans many workers primarily relied on which provided a fixed pay-off for employees at retirement, which have now become increasingly rare.” “Many backers of the 401K say it wasn’t designed to be a primary retirement tool.” “The 401 is tax code 401, that’s where the name comes from. Tax code 401K.” “When you withdraw from a 401K, you get taxed at whatever tax bracket you’re in at the time of withdrawal.” _____________________________________ Subscribe, Like, and Comment! ▪️ leearnoldsystem.com ▪️ facebook:   / leearnoldsystem   ▪️ instagram:   / leearnoldsystem   #realestate #realestateinvestment #investment #invest #education #wealth